The [London] Financial Times: The New Oil War -- October 8, 2022

Link here.

I called it a few days ago. Whoo-hoo!

How in the world did Biden get us into a war with Saudi Arabia?

First, he attempts to cut off our oil from Canada by killing the Keystone XL. Then he slow rolls US shale by delaying the permit approval process, then starts an oil war with Saudi Arabia, and, now looks to ban all off shore drilling.

Is there a pattern here?

In the process he has killed ESG and renewable energy. 

ESG is dead. Link here.

Renewable energy will remain a niche player.

Is there a pattern here?

To fill the gap: nuclear energy and coal.

Nuclear energy. Being shut down? 

Coal. 

ESG and renewable energy will kill coal.  

It's difficult to connect the dots unless one understands there are not always conventional dots to connect.

In this case, two huge US players have a huge connection with coal.  

The first:

Before entering politics, this West Virginian helped found and was the president of Enersystems, a coal brokerage company his family owns and operates.

At some point [early in his political career], this coalmonger moved his Enersystems [coal] holdings into a blind trust. 

In a financial disclosure from 2020, this US senator reported that his non-public shares of Enersystems [coal] were worth between $1 million and $5 million and that between 2011 and 2020 he was paid $5,211,154 in dividend income from them. 

In 2020, he received over $500,000 in dividends. 

Enersystems [coal] is 71% of his investment income and 30% of his net worth. 

Most remarkably, this coalmonger is the chair of the US Senate Committee on Energy and Natural Resources. 

He has been listed as one of the 20 richest senators. 

Biden has depended on this individual to get key bills passed.

The second:

• either the largest or second largest mover of coal by rail in the US.
• in the 2022 survey, he was ranked the 4th richest man in the US.
• I doubt the president of the United States would ever say "no" to a phone call from the county's fourth richest individual who also happens to be a Democrat.